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A theory is appropriate as long as it fits into the fact; when a theory doesn't fit in the fact, it's wise to walk with the fact.

Saturday, April 14, 2012

More freedom to Chinese currency!

China took a milestone step allowing the yuan to double its trading band size against the dollar. From April 16, 2012, the renminbi exchange rate against the dollar in the spot interbank currency market will be widened from 0.5 percent to 1 percent as the People's Bank of China, the central bank of China said.

News link on the issue.

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